Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1887-06-25
Changes in the Stations Of
United States Troops.
STATEMENTS DEMANDED.
Arizona in Danger OF Great
Indian Troubles.
Southern California Railroad Develop.
nsntS-St&tement Regarding Oar
PestoGees-Chlnese Thsnksglv-
Ing 0regoa Express
Route chaRgsa.
sT0ex PANIC.
Tax NKw YoEK STOCK MARKET EKcoMEs
TaE SEINE OF SHosr-IIvkD
Rrrr ENfITTNa pANIr

THx NEw YogK STOCK MARKET BECOME
TIE scKSE OF A SHoAr-IIvkD
BUT EXCITING PANIC.
NKw YoRK, June 2A.-The Exchange
this morning became extremely active
and excited, with heavy declines. The
market opened With Q feeling Of co0fi-
dence in many Of the stecks that snf-
feFed 50 severely yesterday, and large
supporting orders were given all ever
the room. In few moRaents there vas
9 very heavy selling apparent. Reports
we're circulated that Jay Gould was
dead and that there had been falling
out between Jay Gould, Rsssell Sage
and Cyrus w. Field. At the saTae time
some heavy blScks of Manhattan stock
we're offered, causing the price OF that
steck 10 break frons 1864 TO 120.
The room was crowded with brokers
aRd the decline brought out selling or
ders in all classes OF securities. West
ern Union began TO break down about
II o'cloek. and 10 Is minutes Ii had
dropped eight points. The fall in other
stocks was correspondinely heavy. The
greatest excitement was In the loan
srowd, where many Inquiries were made
Tor loans on call; but parties prominent
N leaning moneT refused to leRd any
mount, no matter hsw small.
Tbs excitement reached its greatest
seight shortly before noon and vaFls-
able panic was developed. No attention
was paid by the brokers 10 fractions in
sales made BY them, ssd fluctuations
were so wild that sales were sometimes
from 5 to 10 per cent. apart. Stocks
bought near the opening we're thrown
ever when the break occurred, aud this
selling completely denoEaliZed the
speculators. Wall street was q scene of
more excitement than has been witness
ed since the May panic OF 1886.
The greatest declines recorded, we're:
Manhattan, 401S points; Missouri Paci
fo, IL; Western Union, 8; cotton seed,
z; Richmond Terminal, 7sk; New Eng
land, 6. and Lake Erie d Western, 8.
TIE increased short rate interest saw
ed the room from money panic by its
demand for stocks for delivery aud
some large operators flooded the market
and began buying freely. They soon
gathered large following and their
buying turned the market almost az rap
idly as it had fallen and the stocks took
long jGEps back TO their former prices.
Manhattan recovered 2 per cent. Of its
loss and other stocks generally recover
ed about one half she decline recorded.
No failures we're announced as a result
Of the break.
Gould denies the story that he 6nd
Field had qaarrelled and says that they
are as good friends as ever.
Three thousand shares of various
stocks we're sold on the account Of
Thomas Murphy, who was unable to re-
spond to the call for more margins and
some small lots we're closed cut for
broker Casey, who was reported sick
and unable TO appear.
Money is ruling steadily at per cent
per day and interest as So per cent per
annum. When the delivery hour passed
at she stock exchange without announce
menta Of any failures the street became
more confident and buying orders were
received from all sources. The bears
attempted to cover at the same time shat
the big operators began to buy and the
consequence was that almost all lhe loss
sustained during the panic Of the morn
ing was reFained. The trading for the
day was the liveliest that is remembered,
the whole list having declined and
rallied from 5 to 20 per cent.
The feeling Is now more confident
and il is generally thought that the
Losses are widely scattered throughout
the country and not cOnfiutd TO the city,
ss was the case IN prev'o7s psnicl
Money is still scarce even atkthe high
rates charged and this IL considtrei the
worst feature of the market.
3p. m.-Ths market closed firm bat
quiet at an advance.
Tkomas Marphy has announced that
he will settle all elains in full.
Cyrus w. Field says there Is 10 truth
in the THmoF that be aRd jay Gould
aud Russell Sage have fallen oat. lie
claims thst they are on the best Of
karnns